• Monday, April 22, 2024
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FG inaugurates committee to review Petroleum Industry Act

Petroleum Industry Act

The federal government on Monday inaugurated a technical committee to review the Petroleum Industry Act 2021 and its implications on the statutory responsibilities of the ministry.

Adeniyi Adebayo, Minister of Industry, Trade and Investment who inaugurated the committee noted that the Petroleum Industry Act tampered significantly with some statutory roles of the ministry.

He tasked the committee to come up with strategies to address the issues.

“As a ministry, some of our roles as they relate to the administration of the pre-shipment inspection and the Nigerian Export Supervision Scheme (NESS) had hitherto been under the Ministry of Finance, and are now under the new commission under the Petroleum Industry Act,” he said.

Read Also: Petroleum Industry Act: Impact on indigenous oil & gas companies and NNPC

“Therefore, your technical committee is expected to take a professional look at the document, come up with strategies that will help redress the identified issues,” he further said.

“There is a sense of urgency in the execution of your assignment, so that we can seek the amendment of the infractions on the statutory functions of the Ministry, especially through a request to relevant institutions of government,” he added.

He noted that the assignment is critical to the continuity of the ministry’s role, saying that he is confident in the quality of the members of the committee.

“I task you all to make far-reaching recommendations that will help sustain and stabilize our operations.”

According to a statement signed by Ifedayo Sayo, special assistant to the minister on Media, the technical committee which is headed by Muhammed Danjuma Alhassan, director – legal services of the ministry, will among other things:

Review the Petroleum Industry Act (PIA) 2021 and its implication on the Oil and Gas Export Permit being issued to exporters by CED;

Review the Petroleum Industry Act (PIA) 2021 concerning the Weights and Measures ACT, and its implication on the department;

Highlight the implication of the ACT on the roles of CED and Weights and Measures Departments under the Nigerian Export Supervision Scheme(NESS);

Suggest an appropriate strategy to use in bringing the NESS scheme to FMITI since the scheme is about exports, which is a core mandate of the Ministry;

Suggest ways to remedy the infractions on the responsibilities of the Ministry, if any; and

Prepare relevant letters to Mr. President and the National Assembly.

The committee which comprises directors in the ministry is expected to submit its report in two weeks.